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Pizza Hut, Taco Bell parent Yum misses same-store sales estimates

Published 02/08/2018, 07:22 AM
Updated 02/08/2018, 07:31 AM
© Reuters. A Yum! Brands Inc. Taco Bell is shown in Encinitas, California
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(Reuters) - Yum Brands Inc (N:YUM) reported fourth-quarter same-store sales that missed estimates on Thursday on weak demand at its Taco Bell and Pizza Hut chains.

Sales at its restaurants open at least a year rose 2 percent, missing the Thomson Reuters I/B/E/S estimate of 2.33 percent.

Total revenue fell 17.4 percent to $1.58 billion, lower than the analysts' estimate of $1.59 billion, according to Thomson Reuters I/B/E/S.

Yum announced in a separate release on Thursday it would buy a 3 percent stake in online food-ordering company GrubHub Inc (N:GRUB) for $200 million to increase sales through pickup and deliveries at its KFC and Taco Bell restaurants in the U.S.

© Reuters. A Yum! Brands Inc. Taco Bell is shown in Encinitas, California

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